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Company has also agreed, subject to the approval of Her Majesty's Government, to give to the Company exclusive privileges for Labuan and British North Borneo, and having regard to the importance to British interests, both politically, strategically, and commercially, that a second Cable should be laid without further delay, I venture to hope that the matter will receive Your Lordship's most favorable consideration, and valuable support.
I would beg to point out that the existing Cables are amply sufficient to carry a considerable increase of the present traffic, and as the additional traffic due to the establishment of the proposed new cable would be entirely insignificant in proportion to the large outlay of over £300,000 that would be involved, the project could only be carried out in consideration of the Company receiving some accession of the above indicated privileges.
Should Her Majesty's Government at any time desire to cancel the exclusive privileges applied for, the arrangement could be easily modified by the Government agreeing to purchase the cable in the same manner as was arranged when similar privileges were granted to the Eastern Telegraph Company by...
GR734/43